It’s not a competition

You know what’s really fun? Quizzes. Especially ones that you score well on.

According to this financial fitness test, I’m in solid territory with a result of 86.

Admittedly, I lied about having health insurance – I don’t live in the US, so that’s a moot point. That’s what I pay taxes for. Er, and although my retirement contributions do come out automatically, I transfer the rest of savings every paycheck. That being said, I’ve never forgotten to pay myself first since I started my full time job!

One thing that I couldn’t fudge was the fact that I don’t have a will. To be honest, I’ve mentally pushed it into the “one day” basket, along with “buy a house” and “have children”. I don’t have a lot to my name, and I don’t have any dependents. I guess what few assets I do have, I should create an allocation plan for – any tips for doing it on the cheap and preferably free?

There are so many things that hit you when you realise that it’s time to start acting like a grownup, at least some of the time. And surprise, surprise, they mostly revolve around money . Saving. Investing. Paying off debt. Down payments, holidays, travel, weddings, grad school, and the list goes on. Money may not buy happiness, but not having it is a sure track to misery

The thing to remember is that it’s not a race. I have a partner to support. Some of us have huge student loans. Others help to support their families. Others live at home and have virtually no expenses thanks to generous parents. Nobody’s situation is exactly the same, and no advice is right for absolutely everyone.

Sure, it’s hard not to get jealous when friends take off on spur-of-the-moment road trips during semester break, and I’m stuck working throughout. Or when others embark on their OE, certain to come back with all kinds of exciting tales. But when it comes down to it, we buy each other drinks when we’re broke. We pick each other up when someone needs a ride and we splurge on each other’s birthdays (I’m pretty sure I’m indebted to my best friends to the tune of hundreds after they sent me to a spa last year). But you know what? It all evens out in the end.

This post is part of the 20SB “Friends and Money” blog carnival.

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8 thoughts on “It’s not a competition

  • Reply Stephanie June 27, 2010 at 02:53

    I got an 81…though I also fudged the numbers a little. I also don’t have a will, because I don’t have dependents…or a lot of extra wealth. Heaven forbid something happened to me, I’m pretty sure my loans would all get paid off from my savings accounts, and anything else would be covered by my life insurance (my company gives me some for free…I never bought life insurance for myself).

    And you’re right, everyone’s in a different position. I did notice that the results page pointed out ages of people getting married…almost like it was hinting I better get married soon! But yeah, some friends don’t have any student loan debt, and I’ve still got a lot to pay. A few friends own houses…I’m still renting. But I have some semblance of a plan…though maybe that’s just “it’ll all happen eventually”…but we’ll see.

  • Reply My Financial Fitness June 27, 2010 at 12:09

    […] it’s not a competition, because if it was – I lose. I took the financial fitness quiz eemusings linked to the other day and the results were less than […]

  • Reply paranoidasteroid June 27, 2010 at 14:14

    I agree with this post so hard.

    In one of my favorite yoga DVDs, the teachers says, “There’s no competition here. Every person in this room has been shaped by genetics and by life experiences to have the body they have now. So how can you compare?” So it goes with finances.

  • Reply Benjamin Bankruptcy June 29, 2010 at 15:38

    Look unless you have sizable assets or you particularly want to make sure that you bf gets your Goodshirt cd I wouldn’t worry too much about a will. If you do want to make sure that your Fat Freddies Drop CD goes to a good home you can generally get a will kit from a newspaper of from a legal aid organisation for free or next to.

    PS Papaya is freaking delish

  • Reply The Asian Pear June 30, 2010 at 04:37

    If it makes you feel any better, I’m almost 10 years older than you, and I only scored 86 too. So you’re way ahead of your pack. 🙂

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